# Dubuque Bank & Trust Co

> Institutional holdings reported to the SEC as of Q3 2023 on Form 13F. CIK 933482. Source: https://holderbook.com/funds/933482-dubuque-bank-trust-co/

- Reported value: $748.4M
- Positions: 245
- Weight of the ten largest: 42.3%
- Filed: 2023-10-27

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $49.9M | 361,747 | 6.7% | 17 |
| HEARTLAND FINL USA INC | [HTLF](https://holderbook.com/stocks/HTLF/) | $47.7M | 1,619,694 | 6.4% | 20 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $47.3M | 173,555 | 6.3% | 17 |
| VANECK ETF TRUST | [ITM](https://holderbook.com/stocks/ITM/) | $37.0M | 838,583 | 4.9% | 17 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $31.0M | 634,504 | 4.1% | 16 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $28.8M | 334,195 | 3.9% | 16 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $21.0M | 122,722 | 2.8% | 20 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $18.6M | 58,962 | 2.5% | 20 |
| SPDR SERIES TRUST | [SHM](https://holderbook.com/stocks/SHM/) | $18.0M | 390,306 | 2.4% | 16 |
| NEW YORK LIFE INVESTMENTS ET | [QAI](https://holderbook.com/stocks/QAI/) | $17.5M | 582,889 | 2.3% | 16 |
| J P MORGAN EXCHANGE TRADED F | [JEPI](https://holderbook.com/stocks/JEPI/) | $15.4M | 287,299 | 2.1% | 7 |
| ISHARES TR | [SHY](https://holderbook.com/stocks/SHY/) | $13.4M | 165,441 | 1.8% | 16 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $12.9M | 98,442 | 1.7% | 20 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $12.1M | 308,975 | 1.6% | 16 |
| FRANKLIN TEMPLETON ETF TR | [INCE](https://holderbook.com/stocks/INCE/) | $12.1M | 255,091 | 1.6% | 10 |
| VANGUARD BD INDEX FDS | [BND](https://holderbook.com/stocks/BND/) | $9.6M | 137,412 | 1.3% | 16 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $9.2M | 11,057 | 1.2% | 20 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $9.2M | 57,571 | 1.2% | 16 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $9.0M | 57,659 | 1.2% | 20 |
| VANGUARD INDEX FDS | [VBK](https://holderbook.com/stocks/VBK/) | $8.9M | 41,578 | 1.2% | 16 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $8.6M | 59,632 | 1.2% | 20 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $8.6M | 32,092 | 1.2% | 20 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $8.3M | 110,716 | 1.1% | 16 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $8.0M | 47,671 | 1.1% | 20 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $7.7M | 143,285 | 1.0% | 20 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $7.2M | 56,985 | 1.0% | 20 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $7.1M | 33,433 | 0.9% | 20 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $6.8M | 95,163 | 0.9% | 13 |
| TRI CONTL CORP | [TY](https://holderbook.com/stocks/TY/) | $6.6M | 249,725 | 0.9% | 20 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $6.5M | 41,996 | 0.9% | 20 |
| INVESCO EXCH TRADED FD TR II | [IDLV](https://holderbook.com/stocks/IDLV/) | $6.5M | 250,478 | 0.9% | 16 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $6.4M | 40,089 | 0.9% | 20 |
| ADAMS DIVERSIFIED EQUITY FD | [ADX](https://holderbook.com/stocks/ADX/) | $6.4M | 383,908 | 0.9% | 20 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $6.3M | 71,205 | 0.8% | 20 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $6.2M | 39,297 | 0.8% | 20 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $5.8M | 27,743 | 0.8% | 20 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $5.4M | 36,127 | 0.7% | 20 |
| BLACKROCK INC | [BLKXXXX](https://holderbook.com/stocks/BLKXXXX/) | $5.3M | 8,158 | 0.7% | 20 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $5.2M | 66,414 | 0.7% | 20 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $5.2M | 56,848 | 0.7% | 20 |
| ISHARES TR | [IGF](https://holderbook.com/stocks/IGF/) | $5.0M | 116,621 | 0.7% | 3 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $4.9M | 45,963 | 0.7% | 20 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $4.8M | 11,244 | 0.6% | 20 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $4.8M | 11,075 | 0.6% | 20 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $4.6M | 31,540 | 0.6% | 20 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $4.3M | 72,847 | 0.6% | 2 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $4.2M | 18,438 | 0.6% | 20 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $4.2M | 13,744 | 0.6% | 20 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $4.1M | 15,690 | 0.6% | 20 |
| ING GROEP N.V. | [ING](https://holderbook.com/stocks/ING/) | $4.1M | 308,199 | 0.5% | 10 |
| SPDR SERIES TRUST | [HYMB](https://holderbook.com/stocks/HYMB/) | $4.0M | 167,163 | 0.5% | 11 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $3.7M | 10,705 | 0.5% | 20 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $3.7M | 6,578 | 0.5% | 20 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $3.7M | 31,117 | 0.5% | 20 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $3.5M | 20,622 | 0.5% | 20 |
| INDUSTRIAL LOGISTICS PPTYS T | [ILPT](https://holderbook.com/stocks/ILPT/) | $3.2M | 1,123,563 | 0.4% | 9 |
| ISHARES TR | [EMB](https://holderbook.com/stocks/EMB/) | $3.1M | 37,493 | 0.4% | 16 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $3.0M | 40,126 | 0.4% | 20 |
| INVESCO EXCH TRADED FD TR II | [TBLL](https://holderbook.com/stocks/TBLL/) | $2.9M | 27,636 | 0.4% | 13 |
| SPDR SERIES TRUST | [JNK](https://holderbook.com/stocks/JNK/) | $2.9M | 31,594 | 0.4% | 16 |
| BLACKSTONE SECD LENDING FD | [BXSL](https://holderbook.com/stocks/BXSL/) | $2.8M | 101,933 | 0.4% | 5 |
| ACTIVISION BLIZZARD INC | [ATVI](https://holderbook.com/stocks/ATVI/) | $2.5M | 27,138 | 0.3% | 3 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.5M | 12,209 | 0.3% | 20 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $2.5M | 21,873 | 0.3% | 3 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $2.4M | 18,363 | 0.3% | 20 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $2.3M | 43,498 | 0.3% | 5 |
| ISHARES TR | [SUB](https://holderbook.com/stocks/SUB/) | $2.2M | 21,686 | 0.3% | 15 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $2.1M | 38,167 | 0.3% | 20 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $2.1M | 25,850 | 0.3% | 20 |
| SPDR SERIES TRUST | [SPIB](https://holderbook.com/stocks/SPIB/) | $2.0M | 62,111 | 0.3% | 3 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $2.0M | 47,788 | 0.3% | 20 |
| VANGUARD BD INDEX FDS | [BIV](https://holderbook.com/stocks/BIV/) | $1.9M | 26,237 | 0.3% | 15 |
| ISHARES TR | [ICSH](https://holderbook.com/stocks/ICSH/) | $1.9M | 37,647 | 0.3% | 16 |
| POSTAL REALTY TRUST INC | [PSTL](https://holderbook.com/stocks/PSTL/) | $1.8M | 136,971 | 0.2% | 17 |
| VANGUARD ADMIRAL FDS INC | [VOOG](https://holderbook.com/stocks/VOOG/) | $1.5M | 6,010 | 0.2% | 12 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $1.4M | 13,677 | 0.2% | 1 |
| UBS AG | [SLVO](https://holderbook.com/stocks/SLVO/) | $1.4M | 19,725 | 0.2% | 4 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $1.3M | 14,201 | 0.2% | 20 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.3M | 2,620 | 0.2% | 20 |
| BLACK HILLS CORP | [BKH](https://holderbook.com/stocks/BKH/) | $1.3M | 25,908 | 0.2% | 13 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $1.2M | 53,495 | 0.2% | 1 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $1.1M | 9,113 | 0.1% | 12 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $1.1M | 32,266 | 0.1% | 20 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $1.0M | 5,663 | 0.1% | 20 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $999.0K | 6,696 | 0.1% | 20 |
| J P MORGAN EXCHANGE TRADED F | [JPIB](https://holderbook.com/stocks/JPIB/) | $981.2K | 21,569 | 0.1% | 5 |
| HUBBELL INC | [HUBB](https://holderbook.com/stocks/HUBB/) | $940.2K | 3,000 | 0.1% | 14 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $912.6K | 18,089 | 0.1% | 10 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $906.5K | 1,791 | 0.1% | 20 |
| VANGUARD CHARLOTTE FDS | [BNDX](https://holderbook.com/stocks/BNDX/) | $897.3K | 18,760 | 0.1% | 18 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $885.6K | 7,841 | 0.1% | 3 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $861.8K | 8,371 | 0.1% | 20 |
| DIREXION SHARES ETF TRUST | [JNUG](https://holderbook.com/stocks/JNUG/) | $836.3K | 32,720 | 0.1% | 5 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $818.5K | 15,594 | 0.1% | 1 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $811.1K | 1,510 | 0.1% | 12 |
| COMCAST CORP NEW | [CMCSA](https://holderbook.com/stocks/CMCSA/) | $803.9K | 18,130 | 0.1% | 20 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $788.2K | 3,150 | 0.1% | 13 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $769.5K | 1,769 | 0.1% | 2 |
| SPROTT ASSET MANAGEMENT LP | [PSLV](https://holderbook.com/stocks/PSLV/) | $762.2K | 100,548 | 0.1% | 11 |
| STARWOOD PPTY TR INC | [STWD](https://holderbook.com/stocks/STWD/) | $759.0K | 39,225 | 0.1% | 20 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2023 | -3.1% | -3.6% | +0.5% | 100% |
| Q2 2023 | +1.6% | +8.3% | -6.7% | 100% |
| Q1 2023 | +1.9% | +7.0% | -5.2% | 100% |
| Q4 2022 | +8.2% | +7.1% | +1.1% | 100% |
| Q3 2022 | -5.1% | -5.3% | +0.2% | 100% |
| Q2 2022 | -13.0% | -16.5% | +3.4% | 100% |
| Q1 2022 | -4.6% | -4.9% | +0.4% | 100% |
| Q4 2021 | +6.5% | +10.7% | -4.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2023 | $748.4M | 245 |
| Q2 2023 | $776.8M | 236 |
| Q1 2023 | $779.6M | 224 |
| Q4 2022 | $764.3M | 221 |
| Q3 2022 | $714.9M | 218 |
| Q2 2022 | $774.3M | 225 |
| Q1 2022 | $895.4M | 247 |
| Q4 2021 | $952.4M | 262 |
| Q3 2021 | $893.8M | 272 |
| Q2 2021 | $900.1M | 275 |
| Q1 2021 | $878.4M | 270 |
| Q4 2020 | $815.9M | 255 |